Open Access. Powered by Scholars. Published by Universities.®
Physical Sciences and Mathematics Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Physical Sciences and Mathematics
Medical Rate Setting: Multi-Curve Approximation And Projection, Darrin Winger, Christian Sandtveit, Jeremy Straub, Eunjin Kim
Medical Rate Setting: Multi-Curve Approximation And Projection, Darrin Winger, Christian Sandtveit, Jeremy Straub, Eunjin Kim
Jeremy Straub
In order to maximize profit, our approach was to maximize the difference between total revenue and total cost, where total revenue would be larger than total cost. In the problem we are given a series of points, which relates price, cost, profit and quantity. We can calculate the total revenue by multi-plying the price with quantity, and the total cost by multiplying the cost with the quantity. Total profit is calculated by multiplying profit and quantity. We are given 4 initial points, and based on those 4 points we will calculate the point where the profit is currently maximized. Based …
Medical Rate Setting Problem: Using The Hill-Climbing Search To Maximize Health Care Provider Profit, Calvin Bina, Jaeden Lovin, Jeremy Straub, Eunjin Kim
Medical Rate Setting Problem: Using The Hill-Climbing Search To Maximize Health Care Provider Profit, Calvin Bina, Jaeden Lovin, Jeremy Straub, Eunjin Kim
Jeremy Straub
Our program for calculating the optimal price for a service is relatively simple, but it gets great results. We make use of quadratic regres-sion. Quadratic regression has a very similar concept to linear regression. Given a set of data points, we find the equation that is the best fit to represent those data points. With linear re-gression, our resulting equation is linear. How-ever, with quadratic regression, our end result is a quadratic equation. We have two quadratic equations to come up with. One is our cost function and the other is our units sold func-tion. Both of these equations are …